Breakingviews: Maybe Hollande does get it

Nov. 14 - Six months in, the French president finally seems to grasp the country's need for fundamental economic reform, says Reuters Breakingviews.

▲ Hide Transcript

▶ View Transcript

French president Francois alone the focus of today's -- breaking -- show. The European at a except he had been on song -- -- talk assessed through what mr. Won't have to say -- -- decline is not our destiny is as a as a fellow Frenchman. Got to that. The first two of those formulas literate apple almost a terrific woman and her friend a French president's long. -- I was most surprised but he's very business friendly press conference about it -- -- -- to me that's let's get your general take on this from amusing to me to be you know don't judge me. Shorts you've got to judge me on long term fine view success here and I can make it was and I'm responding to Mike. It takes. About a big advantage housing has five years ahead of them he has both -- of the socialists control both chambers of parliament. He's a good Lewis in the poll opinion polls and he's highly unfinished business there and popular form for a -- New president's six month into the -- And he's sticking to reform agenda that frankly speaking we didn't think he was able to. The first side second it implement an indecent we knew that he would stick the fiscal deficit targets. Reducing shrinking the deficit to the agreed targets and targets that have been agreed with Brussels. That we knew that that was what have his campaign plays you'd never made a mystery of it he says we what I was doing it could be talked about we do it. What was not expected was first. He's action and competitiveness -- the high profile got to a report for two weeks. Our record actually just sergeant Robert we in front this is a long we in France more than others have to prove -- seriousness and our competitiveness. More than Germany. And that's what -- do. He says it you know are envisioning. What he's showing that at least he has a full grasp of the seriousness of the future. Forget about fiscal deficit French problem is competitiveness. Current account deficit that have been running use. You know rose 3% of GDP current account deficit. French stunning French exports -- down. Because of trade deficit with both Spain and Italy for -- for a stunning news. This is serious. Public spending is not a hot eurozone level 57% of GDP. Or long set for the first time these -- to come down he said are we more happy -- we -- and -- we believe. Better now than five years ago when public spending was still high 52% of GDP. And that's right it's the -- four assistant vice president and even for any president. To really take advantage Arctic argue are you -- skipped school now of this presidency than you were. Six months. I have to -- my own words are in new two weeks ago I wrote that he would not back -- this is -- really owned the gun to our report competitiveness and labor costs I think I thought he didn't. Even thing under the Francis who spoke to didn't think that labor costs -- what what what was an issue. And the acted within twenty tourism and tax credits for children is is that he's very happy for. Especially small businesses small and medium businesses and -- he's I mean he's he gets it after eleven that's that's what we think what Sarkozy thinking. I don't know he's. Putin Russia couldn't get invited by the Russian oligarchs. For to give some you know high profile speech probably paid for speech -- suddenly no -- flight is so I don't know it. All right no doubt talk about a long again is this as we move through this this Tanya. Get canceled many thanks for that to take back at 1050. And I -- -- -- UK employment. Minnesota mark -- I will be discussing the sharpest rise in the jobless claimant count and every year is our turnaround -- that our resilience that we've seen over the past few months I'm axle problems is rises.

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: